BENEFIT PLANS

9 Months Ended

Mar. 31, 2023

Retirement Benefits [Abstract]

BENEFIT PLANS

BENEFIT PLANS

Components of Net Periodic Expense

The following table sets forth the aggregate net periodic benefit expense for the Bank’s Benefit Equalization Plan, Postretirement Welfare Plan, Directors’ Consultation and Retirement Plan, Atlas Bank Retirement Income Plan and Supplemental Executive Retirement Plan:

	Three Months Ended March 31,				Nine Months Ended March 31,				Affected Line Item in the Consolidated Statements of Income
	2023		2022		2023		2022
	(In Thousands)
Service cost	$	24	$	136	$	258	$	412	Salaries and employee benefits
Interest cost	88		70		280		208		Other expense
(Accretion) amortization of unrecognized (gain) loss	(6)		20		(18)		60		Other expense
Expected return on assets	(25)		(27)		(75)		(83)		Other expense
Net periodic benefit cost	$	81	$	199	$	445	$	597

2021 Equity Incentive Plan

During the nine months ended March 31, 2023, the Company granted 323,218 restricted stock units (“RSUs”) comprised of 238,121 service-based RSUs and 85,097 performance-based RSUs. The service-based RSUs will vest in three tranches over a period of three years and the performance-based RSUs will cliff vest upon the achievement of performance measures over the three-year period ending June 30, 2025. The number of performance-based RSUs that will vest, if any, will depend on whether, and to what extent, the performance measures are achieved. Common stock will be issued from authorized shares upon the vesting of the RSUs.